10 Hrs
Source:
الاقتصادية
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Saudi stocks rebound for second day
Saudi stocks rose for the second consecutive session, with the "TASI" index closing up by 0.3% at 11,069 points. There was an increase in participation in the upward movement and a greater balance between different stocks and sectors. The banking sector contributed to more than half of the market gains, mainly supported by Al Rajhi Bank and Al Ahli Bank. However, trading volume in major stocks was below average, indicating that the rise may not reflect strong and sustainable demand. Meanwhile, risk appetite was evident in small and medium-sized stocks. Valuations suggest that the market is increasingly relying on improved earnings and fundamental factors to elevate levels, amid rising price volatility.
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